At present, consumers typically spend a significant amount of time researching an expensive product, such as a new television, camera, smartphone, or computer, prior to conducting an actual purchase. For example, some consumers are compelled to research all of the different brands, models, specifications, and reviews associated with a desired product prior to arriving at a purchase decision. Moreover, even after a specific product is finally selected, a consumer may subsequently spend additional time comparison shopping in order to acquire the selected product at the best available price. However, such comparison shopping may only present a consumer with prices currently advertised by merchants and fails to provide the consumer with actual prices of product sales conducted in the consumer's local area.
Accordingly, there exists a need for improved systems, methods, and computer readable media for utilizing payment card transaction data to conduct product price comparisons.